The Riksbanks Climate Report 2021

Why does the Riksbank work with climate-related risks?

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Why does the Riksbank work with climate-related risks?

The direction of the Riksbank’s climate-related work

Published: 4 May 2022

The Riksbank works on behalf of Sweden’s citizens for a strong and secure economy by conducting a monetary policy with price stability as its main objective and by promoting safe and efficient payments and a stable financial system. Since climate change affects the Riksbank’s areas of responsibility, long-term sustainability is important for the Riksbank. There is a sustainability committee at the Riksbank that coordinates and develops work on the basis of a sustainability strategy. The Riksbank strives to work systematically with sustainability in all its different activities.[4] See The Riksbank’s work on sustainability.

Based on the sustainability strategy, the Riksbank shall take account of climate change and promote an orderly transition to a sustainable economy within the framework of its mandate. To achieve this, the Riksbank will

  • work to ensure that its own operations gradually align with international agreements such as the Paris Agreement
  • help to increase knowledge of the effects of climate change on the economy by contributing its own research and analyses
  • take a sustainability perspective in its asset purchases and in the management of the foreign exchange reserves, while remaining within the framework of the Riksbank’s mandate
  • promote increased transparency and reporting related to climate footprints
  • promote regulations in the financial markets to reduce the risks climate change may entail for the financial system
  • actively participate in various international networks and partnerships to help reduce the risks of climate change at a global level.